Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #4626213
Complaint Overview
Complaint ID: 4626213
Company: Fairway Independent Mortgage Corporation
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: California
ZIP Code: 92886
Date Received: 2021-08-12T12:00:00-05:00
Date Sent to Company: 2021-08-12T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
XX/XX/XXXX We entered a 60 day escrow ( closing date to be XX/XX/XXXX ) XX/XX/XXXX Completed mortgage application ( jumbo loan ) XX/XX/XXXX Loan Officer Income review completed & contract received XX/XX/XXXX First round of documents requested and uploaded ( in between lots of emails received requesting documents and over 100 documents uploaded ) XXXX Received email " Final items for clear to close '' ( in between MULTIPLE emails requesting MORE documents than the " final items '' originally listed ) XXXX ( final business day before supposed to close ) ; more documents requested and notified that " investor '' requiring an additional $ XXXX in cash reserves, but can't take it out of our business account. " We are XXXX short. can this be gifted to you by a relative? " ; We advised we would sell $ XXXX in stock and asked to run bonuses through company to appease the investor. We were instructed to do it - because of the $ transfer process, we advised that this would take us an additional 3 days past closing date. XX/XX/XXXX - 60 DAY CLOSING DATE ( comes and goes ) XX/XX/XXXX we were advised that investor " did not accept '' our reserves and was declining our loan. They advised that they had another investor they could go to, but would need until XX/XX/XXXX to close. We contacted our bank and the loan closed in 6 business days. We do not need resolution from Fairway. We have bought and sold many properties involving jumbo loans and believe that this company is not experienced enough in jumbo loans to properly service them.
Frequently Asked Questions
What is Complaint #4626213 about?
Complaint #4626213 was filed against Fairway Independent Mortgage Corporation regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2021-08-12T12:00:00-05:00.
How did Fairway Independent Mortgage Corporation respond to this complaint?
The company responded with: "Closed with monetary relief". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Fairway Independent Mortgage Corporation?
Yes, visit the Fairway Independent Mortgage Corporation company profile at readthecomplaint.com/company/fairway-independent-mortgage-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.